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1. What is the future value at the end of year 3 of the following set of cash flows if the interest rate is 14%?

Year 0 1 2 3

Cash Flow $900 $400 -$600 -$700

a. -$649.32

b. -$268.88

c. $0

d. $316.72

e. $469.23

2. Jamie owes $21,750 at a 5% rate of interest. The minimum amount that she must pay monthly is $230.69. How much faster can she pay off this loan if she makes monthly payments of $300.00?

a. 1.68 years sooner

b. 2.54 years sonner

c. 2.79 years sooner

d. 2.93 years sooner

e. 3. 3.01 years sooner

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Financial Management, Finance

Category:- Financial Management
Reference No.:- M92833694

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